https://www.taxtmi.com/caselaws?id=68785 The Tribunal upheld the CIT(A)'s decision to cancel the penalty imposed under section 271(1)(c) of the Income Tax Act. The Tribunal found that the assessee's voluntary surrender of income, supported by substantial evidence, did not amount to concealment or furnishing of inaccurate particulars. The appeal by the Revenue was dismissed, affirming that the penalty was not justified in this case. en-us Fri, 11 May 2007 00:00:00 +0530 Wed, 08 Aug 2012 10:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68785 The Tribunal upheld the CIT(A)'s decision to cancel the penalty imposed under section 271(1)(c) of the Income Tax Act. The Tribunal found that the assessee's voluntary surrender of income, supported by substantial evidence, did not amount to concealment or furnishing of inaccurate particulars. The appeal by the Revenue was dismissed, affirming that the penalty was not justified in this case. Case-Laws Income Tax Fri, 11 May 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68785